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of winning back the house, they don't want to go there. republicans have a big flank of new members elected on a pledge of no new taxes. nobody is dealing with reality. anybody on this panel, two of us could make a deal, but they cannot. >> why can they not make a deal, charles? >> you saw it in the clipou showed. nancy pelosi is the classic definition of a reaction. liberal. no changes in programs, entitlements. -- classic definition of a reactionary at liberal. no genocide programs, entitlements. if you all make -- note changes in programs, entitlements. if you don't make changes, he will wreck the economy, and everybody over the age of nine knows that. is that they are not willing to means test -- if they are not willing to means test entitlements, which you think and liberal alike, who always argue in terms of sharing the sacrifice and the rich bearing the burden, nothing will happen. >> colby? >> you just had exhibit number one of why they have not been able to reach a deal, as my friend charles expressed. if you start out with nancy pelosi and the position of republicans on tax increa
for a solution that would require both big cuts in spending and more revenue. >> so the bottom line is this -- any agreement to reduce our deficit is going to require tough decisions and balanced solutions. the president urged congress to reach a deal now. >> if the united states government, for the first time, cannot pay its bills, if it defaults, then the consequences for the u.s. economy will be signicant andnpredictable. and that is not a good thing. >> we have a special report coming up later on the moral arguments in washington's intense debate over debt, spending and taxes. >>> in new york, there were celebrations after that state legalized gay marriage. some religious groups, however, continued to voice their objection to the law. new york's catholic bishops said the law will undermine marriage and family. in a separate statement, the bishop of brooklyn warned catholic schoolagains bestowing any distinctions and honors on the governor or on legislators who voted for the law. >>> in other news, palestinian leaders formally announced their decision to seek united nations recog
, the sharpest >>> issue one, too big to fail? >> i urge democrats and republicans in the senate to find common ground on a plan they can get support that can get support from both parties in the houses, a plan that i can sign by tuesday. >> okay, the economic stats n the second quarter of this year, april, may, june, the u.s. economy grew at a rate of that's 4/10 every 1% growth. question, are these statistics a bigger worry than the debt ceiling prevailing argument? pat buchanan? >> they're equally big worries, john. despite the fact the president had an $800 billion stimulus fed is triple the money supply, three deficits of almost $5 trillion, the economy is dead in the water this. that argues for a stimulus of a reaganite stimulus or obama stimulus, but there's who more tools in the toolbox here. on the other side you have the debt deficit problem, which $10 trillion in deficits, which argues for austerity. spending cuts, taxations, so you've got two in total conflict. the president inherited aaron economy, john, that i think the only way this thing will go forward is through the old stagfl
, to the red, white, and blue. in the big apple and elsewhere, the day will end with the usual bursts of color, lighting the night sky-- a once-a-year moment, cherished by millions. but, in some places, this year, the sky will be silent. raging wildfires and dry weather in arizona, new mexico, and texas have forced authorities to cancel fourth of july fireworks in certain areas. >> a lot of people are going to be really disappointed, i thinkç >> woodruff: the patriotic spirit isn't felt only in the united states. these u.s. soldiers stationed in southeastern afghanistan held a flag raising ceremony to commemorate the 4th. and at kandahar airfield general david petraeus spent his last independence day as commander of u.s. and nato forces in afghanistan, with the troops. petraeus set to take up his new job as c.i.a. director later this year, today administered the oath of re-enlistment to 235 service members.çç >> you can really feel the honor, especially when you get a general like general petreas come down and do it for us. it makes it really feel a lot more important to me. it'll be nice
-- there are loopholes they need to close. but charles' point is white. these are tiny, tiny little drops in a big ocean. there inot enough in corporate jets or even the hedge fund guys, although i would like to. they have to raise revenues, i hate to say it, on the middle class. this is the point that gets lost on this. everybody is in this boat. there is no way out of it unless every single american does something. >> raise revenues on the shrinking middle class, mark. >> everybody is in it, and evan is right -- evan addressed the possibility of default. when that happens, the federal government of the united states, which bars or 40 cents of every dollar we spend every single day, is faced with the option -- do you pay a sergeant in combat in kandahar, a grandmother with a 1-bedroom apartment in social security check, or to meet the obligations of bankers who are holding their debt in beijing and beverly hills? the answer is simple. the prior claim is on the second group. the reality is we are talking about -- the president is proposing increasing taxes, revenues, by 1% over the next 10 years. $400 b
Search Results 0 to 4 of about 5